A longtime Outerlimits Offshore Powerboats customer and close friend of the late Mike Fiore—the Bristol, R.I., company’s founder—Joe Sgro has purchased the assets of the custom high-performance V-bottom and catamaran builder. The details of the deal, which closed last week, were not released.

“We finally closed on the deal,” said Sgro. “I am the sole owner of the assets of Outerlimits and the new name of the company is 'Outerlimits of Rhode Island.' Michael left us with a lot of molds and a lot of ideas and we are working on a couple of projects I don’t want to talk about yet. Hopefully, we’ll be in full production in six months"...

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